Item 5.02 Departure of Directors or Certain Officers; Election of Directors;


          Appointment of Certain Officers; Compensatory Arrangements of Certain
          Officers.

On March 16, 2023, the Board of Directors of Hallmark Financial Services, Inc. (the "Company") promoted Christopher J. Kenney to the office of Chief Executive Officer of the Company. Mr. Kenney will also continue to serve as President and Chief Financial Officer of the Company. Mark E. Schwarz, who previously served as the Company's Chief Executive Officer, will remain in his continuing role as the Company's Executive Chairman of the Board.

Mr. Kenney, age 60, has served as the Company's President since January of 2022 and its Chief Financial Officer since May 2021. He had previously served as its Chief Accounting Officer since September 2020 and its Senior Vice President of Accounting since 2004. From 2003 to 2004, he served as Senior Vice President of Accounting for Affirmative Insurance Holdings, Inc. From 2000 to 2003, Mr. Kenney served as Controller of Associates Insurance Group, a subsidiary of The Travelers Companies, Inc. From 1994 to 2000, he served in various accounting positions with Associates Insurance Group, the insurance division of Associates First Capital Corporation, rising to the Controller. Mr. Kenney is a Certified Public Accountant licensed in Texas.

Mr. Kenney has no written employment agreement with the Company and is an at-will employee. In connection with his new responsibilities, Mr. Kenney's current salary has been set at $420,000 per year. He is eligible to receive discretionary annual bonuses and participate in the Company's 2015 Long Term Incentive Plan along with other managerial employees of the Company. Mr. Kenney has no family relationship with any director or other executive officer of the Company. There are no transactions in which Mr. Kenney has an interest requiring disclosure under Item 404(a) of Regulation S-K. Mr. Schwarz's annual compensation for his services as Executive Chairman will now be reduced to $395,000 in recognition of the reduction in the scope of his continuing role.

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